Analysts Set PROG Holdings, Inc. (NYSE:PRG) Price Target at $53.83

PROG Holdings, Inc. (NYSE:PRG) has earned a consensus recommendation of “Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $53.83.

PRG has been the topic of several research analyst reports. Jefferies Financial Group upped their price objective on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. TD Cowen upgraded PROG to a “strong-buy” rating in a research note on Friday. Stephens started coverage on PROG in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $60.00 price objective on the stock. Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research report on Thursday, October 24th. Finally, Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and boosted their price target for the company from $41.00 to $55.00 in a research report on Monday, August 19th.

Insider Buying and Selling

In other news, insider Michael Todd King sold 1,500 shares of PROG stock in a transaction on Friday, November 8th. The shares were sold at an average price of $46.97, for a total transaction of $70,455.00. Following the completion of the sale, the insider now directly owns 37,017 shares of the company’s stock, valued at approximately $1,738,688.49. The trade was a 3.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Steven A. Michaels sold 27,324 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $47.19, for a total transaction of $1,289,419.56. Following the completion of the transaction, the chief executive officer now owns 409,209 shares of the company’s stock, valued at $19,310,572.71. This trade represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,207 shares of company stock worth $5,759,152. Corporate insiders own 2.74% of the company’s stock.

Institutional Trading of PROG

A number of hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in shares of PROG by 1.3% during the third quarter. FMR LLC now owns 2,430,318 shares of the company’s stock worth $117,846,000 after acquiring an additional 30,030 shares in the last quarter. State Street Corp raised its position in PROG by 6.9% in the 3rd quarter. State Street Corp now owns 1,776,377 shares of the company’s stock worth $86,137,000 after purchasing an additional 114,498 shares during the period. D. E. Shaw & Co. Inc. raised its position in PROG by 0.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock worth $31,076,000 after purchasing an additional 6,803 shares during the period. American Century Companies Inc. lifted its stake in PROG by 14.1% in the second quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock worth $23,746,000 after purchasing an additional 84,497 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in PROG by 1.6% during the third quarter. Wellington Management Group LLP now owns 414,305 shares of the company’s stock valued at $20,090,000 after buying an additional 6,517 shares during the period. Institutional investors own 97.92% of the company’s stock.

PROG Trading Up 0.9 %

NYSE:PRG opened at $48.66 on Friday. The firm has a 50-day moving average price of $47.15 and a two-hundred day moving average price of $42.24. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 13.48 and a beta of 2.11. PROG has a 52 week low of $26.62 and a 52 week high of $50.28. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97.

PROG (NYSE:PRG) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The company had revenue of $606.10 million for the quarter, compared to analysts’ expectations of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. On average, equities analysts expect that PROG will post 3.35 earnings per share for the current fiscal year.

PROG Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. PROG’s payout ratio is currently 13.30%.

PROG Company Profile

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.